A billionaire who is reportedly is linked to the downfall of the former mayor of Nanjing has been arrested on suspicion of corruption.
Zhu Xingliang ranked number 55 on the 2013 Forbes China Rich List with a fortune worth more than US$2 billion. His family told the company he founded, Suzhou Gold Mantis Construction Decoration, of his arrest.
Shares in the interior decoration firm have dropped about 10 percent since Monday. Ji Jianye was removed from his post as Nanjing mayor last October. --RTHK